Environment - Fight for Climate
The Furniture and Garment Divisions produce durable, long-lasting products in the form of iconic furniture and high-performance garments.
Our goal is to source renewable electricity at all production sites. We have therefore been exploring our options in the countries where we operate and have faced challenges. For instance, in Vietnam, legislation permit solar panels on the roof of the building where the electricity is consumed, but prohibits connection to the grid to supply excess electricity. Power Purchase Agreements (PPAs) typically entail a 10-year commitment to use a specified amount of electricity. Given the fluctuating market demand for both our Furniture and Garment Divisions, it is crucial to consider both market conditions and energy efficiency opportunities when strategizing for a fossil- free future.
Main components in the production of furniture are wood, metal, plastic, foam and fabric, whereas for garments it is fabric and trims. Resent years, huge attention has been paid to the environmental impact of use of fabrics, with reasoning. The growing or extraction of raw materials and processing for fabrics require large amounts of water and chemicals. The majority of the environmental impact from fabrics and other components are concentrated within our value chain (see our Business model on page 11). We see it as our obligation to do as much as possible to reduce the environmental impact. Both we and our customers possess the power to demand wood, fabrics, trims and other components with lower environmental impact. Consequently, we are collaborating with our customers to address the complexities of sourcing more inherently sustainable materials, improving our waste sorting processes, exploring recycling opportunities, and, endeavoring to raise consumer awareness to the greatest extent possible as brand manufacturer.
LTP Group has a four-step strategy to reduce our energy use and CO2 emissions:
Reduce use of non-renewable fuels
Minimize carbon emissions from production sites through energy efficiency
Acquire Guarantees of Origin (GO‘s) or Renewable Energy Certificates (REC’s)
Enter into Power Purchase Agreements (PPA’s) in countries where we have production facilities in order to ensure additionality and the expansion of renewable energy production
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